Legal Updates

Brex-uncertainty wounding UK tech industry

Whether Brexit eventually becomes the triumph we are all now hoping for or whether Brexit is a term forever doused in disaster, the interim uncertainty of what Brexit means is harming the UK’s fastest growing industry and potentially in an irreparable way. Studies show that tech companies are already considering their investment plans and in some cases putting the creation of jobs on hold.

Until tech companies can consider a post-Brexit UK with some clarity, it is thought that they will assume the worst and act accordingly. Unfortunately for the UK, tech companies and tech start-ups are already relocating elsewhere, suggesting the start of what could be an incalculable number of job losses in the industry. Despite these challenges posed by Brexit the tech industry should remain optimistic about the opportunities that continue to exist; the UK is home to 40% of all European tech unicorns and many of these founders are keen to work with the government to find mutually beneficial solutions for a prosperous future, one that remains collaborative with the EU.

For further support on how your tech business can grow amongst all the brex-uncertainty, please feel free to contact our team or check out forburyTECH.